Tilray Sees Unusually Large Options Volume (NASDAQ:TLRY)

Tilray Inc (NASDAQ:TLRY) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 65,869 call options on the company. This represents an increase of 67% compared to the typical volume of 39,407 call options.

Tilray Price Performance

Shares of TLRY traded up $0.07 during mid-day trading on Tuesday, reaching $1.47. 41,795,070 shares of the stock traded hands, compared to its average volume of 25,521,072. Tilray has a 1 year low of $1.36 and a 1 year high of $2.97. The firm has a fifty day moving average price of $1.67 and a 200 day moving average price of $1.78. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -5.22 and a beta of 2.14. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts predict that Tilray will post -0.14 earnings per share for the current year.

Institutional Trading of Tilray

Institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC grew its position in shares of Tilray by 36,687.0% in the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock worth $26,373,000 after buying an additional 10,648,403 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Tilray by 19.6% during the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after purchasing an additional 355,778 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Tilray during the first quarter worth $586,000. J.W. Cole Advisors Inc. boosted its position in shares of Tilray by 1,077.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 171,054 shares of the company’s stock valued at $284,000 after purchasing an additional 156,524 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its stake in shares of Tilray by 103.1% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 304,582 shares of the company’s stock valued at $504,000 after purchasing an additional 154,582 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm cut their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th.

Tilray Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.